 |
|
 |
|
 |
|
 |
 |
Allen Forge is a 50,000 sf neighborhood retail center located at the intersection of Allentown and Valley Forge (Route 363) Roads in Lansdale, Towamencin Township, Montgomery County, PA. Trefoil negotiated the acquisition of the property on behalf of one of its clients in February, 1999 and, recognizing the excellent leasing profile of the center, purchased the center for the Spectrum Alliance LP portfolio in 2006.
Allen Forge is one mile from the center of Lansdale and is readily accessible to the population of approximately 128,500 within a five-mile radius. The shopping center is about ¾ mile from the North Penn High School, one of the largest high schools in the state, with more than 3,400 students. Other strong demographic statistics of the area include a low level of unemployment and a high average household income of approximately $83,300 per year. The employment base in the area is very strong, with several of the County's largest companies employing approximately 20,000 people within minutes of the center. These firms include Merck & Co. (13,000 employees, approximately 1.5 miles from Allen Forge), North Penn School District, Smithfield Meats, and Hatfield Quality Meats.
The property, which was 52% occupied at acquisition, is now well leased with several credit tenants. CVS occupies a 13,000 sf stand-alone store with drive-through. The PA Liquor Control Board leases over 9,000 sf for a Wine and Spirits "Superstore". Bank of America has a local branch. Other tenants provide a variety of neighborhood goods and services.
Trefoil oversaw a significant remodeling of the property. This work included the refurbishment of the entire facade and the replacement of obsolete mechanical systems, along with significant interior improvements for nearly half the center and repaving of the parking lot.
|
 |
|
|
